Now, investment banks are battling to keep their juniors contented. Barclays is the latest bank to fast-track its analysts. Despite the job cuts elsewhere in the business, Barclays is set to promote the analyst class of 2013 to associate level in December – six months earlier than normal, according to recruitment sources.

This will affect Barclays ‘banking’ analysts – usually referred to as IBD in US investment banks – and will be rolled out globally.

Barclays declined to comment.

Part of this is to bring its analyst pay cycle in line with more senior staff. Analysts have historically received their bonuses in the summer, but Barclays will be paying its analyst bonuses in the winter when everyone receives them.

However, it’s also part of a broader trend to fast-track juniors in order to stave of the competition.

Barclays is one of a few banks to promote its analysts more quickly.

Citigroup is promoting first year analysts to analyst two after just six months and bumping up its second year analyst to associates instead of making them ‘analyst three.’ It’s also paying bonuses in January.

Goldman Sachs has an accelerated analyst programme too. It’s moving all its analysts to associates after two years – and UBS has had one in place for a number of years. Barclays seems to be playing catch-up.